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Search Results 0 to 49 of about 79 (some duplicates have been removed)
CNN
Dec 31, 2012 8:00am PST
to hammer out a deal picking tax break ceilings, trying to lessen the impact of spending cuts. there are still major obstacles to pass. but this morning we're hearing that progress is being made. we'll have more on that and the fiscal cliff negotiations in a minute. >>> first, i want to show you the rest of the world is ringing in the new year. midnight arrived in asia. they are calling it a pyre tech nick musical. they were scheduled to begin an hour before midnight. hong kong on the top ten places to ring in the new year. let's listen. ♪ ♪ ♪ ♪ >>> ring in the new year, good morning 2013. we'll continue to monitor all of these celebrations as the day rolls on. the night rolls on in some cases. midnight in the u.s. is the big fiscal cliff deadline. there are two fronts we are watching today. capitol hill and wall street. let's see if there's any movement on capitol hill. stock markets moving up because it's a little erratic. dana bash is watching that live for us. dana, last hour you were saying progress is being made. now you've been hearing rumblings on the opposite
FOX Business
Dec 31, 2012 11:00am EST
if this administration. they continue to work at that. they continue to negotiate. if you make over, you would see a tax increase. this is a negotiation. everything remains very fluid right now. if they do reach a deal, then it comes time to sell it to individual lawmakers. then the house would have to eventually vote on it. let's say a tax increase, preventing a tax increase, if that something you could support? >> they will increase taxes. we have voted to not raise taxes on anybody and extend the tax reductions for everybody. that was a bipartisan vote taken on -- rich: hold on one second. we have senator harry reid on the floor. dagen: there is senator harry reid. >> it is for the date only. they will. dagen: roughly ten minutes each. >> mr. president, i was disturbed to read in the washington post this morning that some kind of agreements are being made here. somehow, the democrats have agreed to raise the level. dagen: we will monitor what is going on on the senate floor. we will see if senator harry reid has more comments to make. rich, my apologies for interrupting you and the congresswoman. i h
CNN
Dec 31, 2012 1:00pm PST
right now. an increase in tax rates for families making over $450,000 a year. extending unemployment benefits. and an increase in the estate tax. the president seemed hopeful but cautious when he addressed the american people earlier today. >> today, it appears that an agreement to prevent this new year's tax hike is within sight. but it's not done. there are still issues left to resolve. but we're hopeful that congress can get it done. but it's not done. >> let's get straight to our chief white house correspondent jessi jessica yellin. she's over at the white house with the very latest. the president seems pretty optimistic that it's within a few hours we could have a deal, right? >> reporter: wolf, the people i just spoke to here say they are no more or less optimistic than they were this morning. which is to say they are not cueing the confetti just yet. senator mitch mcconnell, the republican leader on the hill, is still talking to the white house. the white house is in constant contact with the democratic leader harry reid. and they're working towards some kind of an agreement.
CNN
Dec 31, 2012 4:00pm PST
and your taxes starting tomorrow. >> ali is going to be with us for the next hour or two or three. who knows. we're also watching a very serious health scare for the secretary of state, hillary clinton. she's now hospitalized with a blood clot. doctors are revealing where it is. we want to welcome our viewers in the united states and around the world. >>> we'll get to the fiscal cliff negotiations. there's movement right now, but first, startling new information we're learning about the blood clot that landed secretary of state hillary clinton in the hospital this new year's eve. her doctor is now revealing it's located in her head between her brain and her skull. let's go straight to our chief medical correspondent, dr. sanjay gupta for the latest. they issued a pretty detailed statement, sanjay. walk us through what we know about the secretary's condition. >> well, what they have told us, just over the last couple hours, wolf, is that there is a blood clot that is specifically located in one of the veins that drains blood away from the brain. it's called the cerebral vein or cerebral
ABC
Dec 31, 2012 4:00pm PST
americans more money in tax asks caused deep cuts to many programmer autos there is no deal. right now, congressional leaders said to be close toon agreement f it happens it won't be until tomorrow at earliest. >> abc 7 news has been monitoring the back and north and joins usry. mark, safe to say we may go over the cliff but not to a crash landing. >> you're right that. is a good way to put it. just hours until the fiscal cliff deadline, house republicans have pulled a plug. this, after both senate and white house made it clear a deal was very close. >> president obama told supporters this afternoon that there has been progress in avoiding a hike in middle class tax autos preventing that tax hike has been my top priority. >> the president said the deal being worked outwqjx between the senate republican leader mcconnell and vice president will extend current tax rates for households making up to $450,000 per year, increasing estate tax rate from 35% to 40%, and extend unemployment benefits one year. sticking spoint how long to push off massive mandatory spending cuts to the pentagon and
WHUT
Dec 31, 2012 7:00am EST
reached a deal to stop tax rises in spending cuts from damaging the american and the global economy? hillary clinton is being treated at this hospital in new york. she has a blood clot. there's concern over the health of the venezuelan president who has suffered complications after cancer surgery in cuba. walk into bbc world news. coming up, and look back at the british troops as they prepared handover to afghan forces. new zealand becomes the first major city to welcome 2013. time is running out for politicians in the united states to strike a deal to prevent the economy from going over the so- called fiscal cliff. that is when a package of automatic spending cuts and tax rises comes into fact which could set the country back into recession. that less than 20 hours into the generate the first deadline. >> as night descended on washington, no deal precentors went home with a low over 24 hours to go before the huge austerity package known as the fiscal cliff, something almost nobody wants is due to descend on the american economy. >> we will come in at 11:00 tomorrow morning and that
CNBC
Dec 31, 2012 9:00am EST
this looming tax hike. everyone agrees that that action is necessary. >> so now all eyes are focused on the senate for 11:00 this morning when they do reconvene. there were reports there was major progress overnight for something that could pass on the senate side. the question is whether it can pass on the house side under the leadership of speaker john boehner. i've talked to a couple of republicans this morning who are fairly optimistic that whatever comes out of the senate, whatever that deal is, it will pass the house this afternoon. although hard-core republican anti-tax folks are not going to vote for it. it still would likely have enough votes to pass. that's at least the mood of some folks i'm talking to today. guys, one of the big questions that's unresolved here was raised on a conference call with ceos arranged by the white house on friday night, on that white house conference call with ceos. one of the ceos asked tim geithner, i'm told by a participant on the call, whether a small deal would be enough to are prevent ratings agencies to downgrade u.s. debt. i'm told by th
CNN
Dec 31, 2012 2:00am PST
the euro. new leadership, pay cuts, higher taxes as their weary government begs for more cash. committing to save the euro. it lives on, but for how long? >> the deadliest month to date as the assad regime intensified its air power. >> how much longer can this man hold on to power? bashar al assad was under even more intense pressure to step down but his regime stepped up the fire power against the opposition, civilians caught in the crossfire, more than 40,000 people have died so far. >> reporter: this is yet another bread line. >> the opposition fights on, making more dramatic gains than ever and gaining pledges of support from the international community. number one, she fought back from the brink of death after being attacked on a school bus. the taliban shot malala yousafzai. she survived, wake up in a british hospital and, according to her father, immediately asked for her school books. the world was gripped, moved and inspired by the story of one determined young girl facing down an entire network of armed militants and winning. zain verjee, cnn, london. >>> next, the stories that
CNBC
Dec 27, 2012 1:00pm EST
thought a $250,000 and above extension of the tax -- bush tax cuts could, in fact, pass and he was extremely, extremely angry in ways that you really hear on the senate floor with the speaker of the house. take a listen. >> it's beings operated with a dictatorship of the speaker not allowing the vast majority of the house of representatives to get what they want. if the 250 would be brought up, it would pass. >> so harry reid there calling house speaker john boehner a dictator for not bringing a bill to the floor that would extend the bush tax cuts for all those who make less than $250,000 a year. now that bill if it was brought to the house floor would have to pass with democratic votes. speaker boehner has said that he wants to pass something ultimately that can be con by t done by the majority of the majority. >> i don't understand how you can call him a dictator when he can't get his own bill passed. that doesn't make any sense to me. if he was a dictator, he could have done it. >> what we're watching here is a lot of finger pointing. the house side wants the senate to do s
CNN
Dec 29, 2012 11:00am PST
these prevent it, in control of whether or not your taxes go up come new year's day. harry reid, minority leader mitch mcconnell, house speaker john boehner and house democratic leader nancy pelosi met at the white house yesterday afternoon with the president and vice president. here's where things stand right now. the senate leaders are meeting aiming to avoid tax hikes. and they may vote on a deal sunday or perhaps on monday. jessica yellin is our chief white house correspondent. lisa day jar dayne is on capitol hill. the president used his bully pulpit to reinforce the idea that senators need to get busy. so let's listen. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable, why everything always has to wait till the last minute. we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. not right now. >> so jessica, you were
NBC
Dec 29, 2012 6:30pm EST
and find some kind of agreement on taxes and spending. tonight the president's position as he sits down exclusively with nbc news. >>> here we go again. another big winter storm blankets the northeast. tonight the latest on where it's headed and how it's affecting holiday travel. >>> high profits from marijuana, at least that's what some entrepreneurs are hoping for as they see big potential in states where pot is legal. >>> and can't stay away. what happened when the parents of one college student just couldn't let go? she gave them a lesson they never expected. >> good evening. the deadline looms less than three days away now and still no sign that congressional leaders have come up with a deal to avoid the so-called fiscal cliff. the president again today called on lawmakers to act before taxes automatically go up for every american and spending cuts kick in. but republicans aren't happy with the proposal the white house is offering. so on a saturday night, washington is still at a stalemate and the public is pretty clearly growing frustrated. david gregory sat down exclusively with
CNBC
Dec 26, 2012 5:00am EST
for you. >>> the u.s. is set to go over the fiscal cliff in five days. that means taxes will go up for nearly every american. dramatic spending cuts will kick in. president obama and congress will be back from vacation tomorrow. but will anything get done? >>> plus, wild winter weather sweeping through the country. we'll bring you the latest details on which part of the u.s. could be hit next. cnbc's "worldwide exchange" starts now. >>> and welcome to a special edition of reside worldwide. ross andcle reoff today for boxes day in -- kelly are off today for boxing day. for now, you is us. >> we'll start with a brief check on the markets. energy and metals are trading higher now, wtis up about 55 cents. brent crude up 65 cents. also want to check in on the gold price, as well. gold right now down about slightly under the flat line there, 1,-658. well below the 1,700 mark. the cme globex has been closed for christmas. it's going to reopen at 6:00 a.m. eastern time. that goes for treasuries and the foreign exchange market, as well. >> as for action in the overseas markets, the u.k. is
MSNBC
Dec 27, 2012 11:00am PST
. john boehner couldn't pass with house republicans the idea of raising taxes only on those making more than a million dollars. the president has insisted throughout that $250,000 had been his limit. it's bumped up to $400,000. but even when they were within just a couple hundred billion dollars, which seems like a lot to you and me but it is not a lot in the language of washington, then they went opposite directions an enwhere the political particular sis stands at this moment. >> all right. peter and alexander, thank you good sir. joining me now karen bass of california. congresswoman, good to see you and nice to see you there from the capitol. you are still in california because house members, again, haven't been called back and given the 48-hour notice to my knowledge. have you? >> exactly. i have flights scheduled every day waiting for that notice to come. i think it is a shame. i think the house should be back in business in d.c. right now. the senate's in session. there's no reason for us to be at home. >> i want play another one of senator reid's comments leveled at speaker boeh
FOX News
Dec 28, 2012 6:00am PST
the cliff. i'm. patti ann: i'm patti ann browne. they will try to avoid the across the board tax hikes for 90% of the american households and deep spending cuts. so far little to no progguess has been reported. gregg: chief white house correspondent ed henry is in the white us. ed, what do we expect out the meeting if any at all? our expectations are a little bit low. >> reporter: you're exactly right, gregg, expectations have to be low. lawmakers of both parties in conjunction with the president have missed one deadline after another. we have been saying for a couple weeks they had to get moving get this completed before christmas in order to give the house and senate time to debate and end up voting on whatever package they come up with. now that we're days away from actually going off the fiscal cliff where these automatic massive spending cuts as well as large tax increases got into effect you have to have low expectations. it appears the white house is very confident in waiting for the republicans to make the next move. they keep saying inside the white house this is up to the rep
CNN
Dec 24, 2012 4:00am PST
for political purposes. i think he sees a political victory at the bottom of the cliff. gets additional tax revenue for new programs, gets to cut the military and blame republicans for it. >> attention now turns to the senate which will reconvene on thursday. the 27th. house majority leader harry reid now has the task of trying to cobble something together that could perhaps pass the senate and also pass the house with some republican support. the expectation would be some democratic support. the white house is still calling for the threshold on tax cuts to be a quarter million. it seems unlikely republicans would sign on the that, and officially president obama is supposed to be remaining here in hawaii through the new year, it seems likely he will be heading back to washington sometimes around when the senate convenes. and in the meantime, just up in the air about what is going to happen. is it going to be a very unmerry cliff-mass? perhaps. >> i feel like we should pause and listen to the best sound in the world behind you. the waves crashing on the beach. >> pretty good. thanks. >>> dan
CSPAN
Dec 31, 2012 2:00am EST
prices higher. these young people and their parents are paying a tax for education and in what country do live in were repeated -underscore? nobody should be made to pay for school, especially when the money is to line the pockets? public transport by the polling accessibility and treatment of disabled and the public transport in our country they desperately need. issues clearly in the best interest of young people we represent and to ignore it beyond just the people. let's make this year the year were reaching =tranfour us to be the last year the issue comes out. >> every restraint ticket the gender balance and this is no exception. i am looking for from the mill stickers, in particular from london. okay, i'm going to take a woman in the second tobacco. yourself, thank you. >> a speaker in opposition for public transport plane that london can =tranfour is a top-rated issue. it is not adjusted to young people and is the main issue. nationally we identify issues of =tranfour and we need to see a representing him. thank you. [applause] >> i think we've got one from scotland. >> mori dalston
CNBC
Dec 26, 2012 3:00pm EST
there will be a resolution and that's largely based on the fact that plan "b" turns from a tax hike to a tax cut as of january 1st. >> so your forecast is -- your forecast is conditional on a resolution and that makes more sense to me. >> rick santelli, i mean, even if we do go over the cliff, anyone you've spoken to that actually believes we would stay interest. >> wouldn't we claw back at some point? >> i think that whether we go over the cliff in the traditional cnbc sense or not, we're still in for a lot of issues, and i particularly want to address my buddy jared. first of all, you know, happy holidays, jared. >> thank you. >> but you did work for joe biden, okay? and how you can be -- how you can be here telling us all how bad it is to go over the fiscal cliff when senators barack obama, senator joe biden, senator harry reid in 2006 all turned down w's request to raise the debt ceiling . >> the fiscal cliff was born in 2011. >> he didn't like it then but he wants today. he wants carte blanche today. >> let him answer, rick. >> i listened to you. please listen to me. i know that's not easy
KBCW
Dec 30, 2012 8:30am PST
are still trying to forge a last-minute compromise to save all americans from a tax hook, but a cbs reporter tara mergener shows us, the deal they're thinking about now takes the can down the road again. >> reporter: senate republican leader mitch mcconnell left the capitol tight lipped and smiling after working behind closed doors to avoid the so- called fiscal cliff. >> need progress today, sir? >> reporter: he and harry reid are working on scaled-down agreement that focuses on avoiding a middle-class tax hike. the plan is to present it to the full senate for a vote on sunday and send it to the house and hoax john boehner was at the capitol and left with no comment. both sides remain at odds over the democrat's insistence that the wealthy pay more in taxes. >> the president's tax hook would only fund the government for eight days. americans deserve to know what is the president -- what does the president propose we do for the other 357 days of the year. >> reporter: president obama insists his plan on the table is fair and includes plenty of cuts to government spending. >> we just can't af
CNBC
Dec 24, 2012 9:00am EST
, whether it's the effects of the fed's monetary policy, year end, fiscal cliff tax related issues. the motivations are a little bit different this time around than they were last year. >> yeah. it's not as pressing, some would argue. some were actually saying on friday, maybe it would have been better if the markets had a sharper sell-off because that could have forced the lawmakers to do something as opposed to leave for obama to have a hastily called friday evening press conference saying, you know what, congress, you have ten days, you go work it out. it's doable. >> it's been an interesting year. of course, we started off so well, in terms of expectations for economic growth. we had an election this year, too. i think that's another thing that is sort of the key. we hit europe again as we had the last two years previously. but this last quarter, i think there's been a lot more optimism, even with the fiscal cliff sitting there, as sort of this potential, real roadblock at the end of the year. perhaps even too much optimism some would say. when you speak to ceos, there's still
NBC
Dec 30, 2012 8:00am EST
>>> good morning. fiscal cliff hanger, lawmakers scrambling to make a deal to keep sharp tax increases an spending cuts from taking effect in 36 hours. can washington get it done? we'll find out where the president stands as he talks exclusively to nbc news. >>> moments of impact. dramatic new images of the moment when a passenger jet crashed off the runway in russia on to a roadway killing four people. ♪ >>> and, fishy thing, this london fishmonger whose sales pitch has turned him into an internet sensation. the viral video that has millions of people around the world hooked, today, sunday, december 30th, 2012. >>> from nbc news this is "today" with lester holt and erica hill >>> i'm erica hill. >> i'm carl quintanilla. >> all eyes on washington. a number of americans wondering this morning why lawmakers have not yet been able to reach a deal to avoid the fiscal cliff. president obama spoke exclusively to nbc's david gregory. we are going to get a preview of what he has to say just ahead. >> it has been just two weeks since the tragedy of sandy hook elementary in connectic
CNBC
Dec 24, 2012 6:00am EST
the fiscal cliff, however, and that's the bad news. and looming tax hikes, spending cuts, all of that. both sides warning a very big deal becoming a bit more unlikely. >> and my one bit of advice to speaker boehner is this. you cannot pass a bill with just republicans. on a broad thing like this, you need both. and he has put himself with plan b and sort of an impossible position. he has to get these hard right goes to go along with him. and he and the president were going to say we're going to pass a deal with the majority of republicans and the majority of democrats in the house and senate, we would get a mainstream deal. >> i think we're going to fall out of the fiscal tree. the big deal for the big deal is at the debt ceiling. that's when we will have leverage to turn the country around. >> congress is now out of session for the christmas holiday. but expect it to be back thursday. joe, we talked to some of the senators and congress last week saying will you come back from vacation? some of them pretend like they weren't going, but i think they really were. >> if boehner's leadership is
CNN
Dec 28, 2012 2:00am PST
the fiscal cliff, just four days left before we go over the edge triggers tax hikes, spending cuts that could send the nation back into recession. the president calling for members of the congress the back. a gang of six attending. vice president biden, harry reid, house minority leader nancy pelosi, mitch mcconnell and john boehner representing the republicans. brianna keilar is live from washington. is anybody optimistic that a deal could be done today around a table? >> i will tell you the optimism is sort of sinking. senate majority leader harry reid said he doesn't see how it can get done by january 1st. we heard from president obama before he left from his vacation that he was optimistic. logistically the white house will tell you it's possible. when you listen to what you're hearing some of these congressional leaders say, there's a lot of posturing laying blame to the other side if we do go over the cliff. take a listen. >> republicans are not about to write a blank check for anything senate democrats put forward because we find ourselves at the edge of the cliff. >> we are here in wa
CNN
Dec 26, 2012 6:00am PST
about the fiscal cliff lately. how will it actually affect you? what happens to your taxes if we go off the cliff? according to the tax policy center if you're sing well no children and make $50,000 a year you will see your taxes go up by $1,500 if no deal is reached. married couple with two kids making $100,000 would see their taxes go up a whopping $5,300 per year. taxes will go up the same amount underneath the democratic and republican plans if no deal is reached. just one day after the christmas holiday, president obama is packing his bags, heading back to washington to try to forge a deal on the fiscal cliff, with just six days left to negotiate, a deal to avoid the catastrophic cliff, the president will leave hawaii tonight to try to work on a bargain between democrats and republicans. brianna keilar is traveling with the president in hawaii and joins us now. good morning, brianna. did the president cut his vacation short or was it planned all along? >> reporter: he did cut his vacation short from what was initially planned which was to go through the new year, so yes, he cut it
MSNBC
Dec 25, 2012 2:00am PST
an impossible task of trying to prevent across the board tax hikes and spending cuts. jennifer johnson has details. >> reporter: a peaceful capitol hill for another few days. congress is expected to come back later this week as america gets closer to the fiscal cliff. some larrymakers are now calling for a small scale deal as a temporary fix. >> i think it's impossible to get any kind of grand bargain or comprehensive package. i think we're dealing right now with whether or not we can put off the increases in tax rates. that's really all we can deal with right now. >> the house will stand in recess subject to the call of the chair. >> reporter: congress recessed after republicans rejected john boehner's compromise. he proposed letting tax cuts expire for those making over $1 million a year. other republicans say it's time for a deal. >> i agree with him. i don't think we ought to increase taxes on anyone. however, we're now at a point where we're not going to get what we think is right for our economy and our country. >> with congress coming back, the president will also reportedly cut sho
FOX News
Dec 24, 2012 8:00am PST
the cliff because then tax less go up. take a listen. >> when i listen to the president i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of the cliff. he gets all this additional tax revenue for new programs. he gets to cut the military which democrats have been calling for, for years. and he gets to blame republicans for it. >> reporter: democrats say that is ridiculous, that the president has been working with republican leaders again and again trying to workout some sort of a deal, both on spending and taxes to avoid the fiscal cliff, and democrat chuck schumer yesterday said the real problem is that republicans won't admit the president won the election and that tax rates are going up. take a listen. >> on taxes, i know it's hard for the republicans, but the president ran on that platform, 250, no tax increase for people below, but taxes for people above, he won 60% of the voters said they were for it in the exit polls, including some republicans. >> reporter: all eyes now turning to the possibility
KRON
Dec 31, 2012 4:00am PST
. >> economist there that the combination of automatic spending cuts and tax increases could trigger a new recession. >> and spencer explains how negotiations today must now overcome a " major setback. >> there will be part of it that i find disgusting rest principle which i may have to swallow in the name of compromise. be a rare session on capitol hill. >> the senate will come to order. >> as lawmakers try to avoid the so-called fiscal cliff. >> both sides agreed to push forward. >> i want everyone to know i am willing to go the distance. but i need a dance partner. >> vice-president joe biden departure for mcconnell. >> if is not resolved by midnight tonight tax increases will be for all americans. >> one mom said to me in michigan that is four months' worth of groceries. >> that is gas for me back and forth to work. >> democrats won higher taxes on americans earning more than two of the $50,000 a year. >> republicans want taxes to stay where they are. >> others want to see government spending to inject. >> the president--has said nothing about the addition about the spending of his adm
CSPAN
Dec 29, 2012 9:30pm EST
and then there was the congestion tax that was a political hot potato and being imposed to keep them from driving into london the american embassy maintained there were not liable to pay because they said it was a charge but they call it the tax. robert tuttle arrived for his credentials they went through the formalities then the informal discussion and she said, and stand you think the congestion charge is the tax? she said it is and she said of course, it is. the diplomatic corps turned white at the prospect but that is very unusual. with her relationship with american presidents, she bonded with them on a personal basis but nothing to do with politics. >>host: with several instances you indicated she has a wicked sense of humor. >>guest: she does. she spends a lot of time in scotland is a great mimic and does a good gordon brown. but her sense of humor is subtle and dried and one of my favorite examples back in 2003 an american lady was in waiting celebrating her 70th birthday held at a nightclub on the square. the queen was very excited because she had not been to a nightclub since the 1940's when she wa
CNBC
Dec 28, 2012 4:00am EST
through january 2nd. both sides are still far apart on taxes and spending cuts. harry reid says prospect deals by monday are unlikely. minority leader mitch mcconnell says there's still time for an agreement. >> republicans aren't likely to sign a blank check just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> now, a new reuters poll shows americans blame republicans more than democrats or president obama for the fiscal crisis. and when asked who they held more response, 27% said the gop, 6% pointed to the dems and 30% said all of the above. for more on this, we're joined by christian schultz from barronberg bank. welcome. so we're going over the fiscal cliff. >> well, the consumer confidenc already be over the cliff in terms of confidence already. that might already be the first impact of the crisis of -- not of the crisis, but yes of the fiscal cliff. it seems we have this moment where this animal goes over the cliff, all limbs are still rotating around and we're staring into the abyss and eventually we're going to fold. >> i love t
CSPAN
Dec 28, 2012 9:00am EST
is restricting jobs and tax base. i would encourage people to get involved in your institute and fight this because it is not doing anything for the economy or our country. merry christmas to everybody. host: john, thank you for the call. what is the history of the cato institute, founded in 1977? guest: it was founded to promote liberty and economic freedom, starting in san francisco, and then move into washington, d.c. milton friedman admitted the kindle institute has never sold out. we still work for liberty and freedom. i've been working with the cato institute since 1995 and full time since 2007. host: mary, fort washington, maryland. democrat. caller: i would suggest thinking that if you follow all of the problems come at the end of the trail you will find the smiling grin of greed. that is what i think caused it. for myself, naca program helped us, taking us out of the ugly arm. my mortgage is $964 a month, which will allow us to stay in our home comfortably. guest: people blame things like a financial crisis on greed, but greed is not changing. it has been with us for hundreds
KCSMMHZ
Dec 28, 2012 2:30pm PST
that obama will discuss measures for avoiding the rest of the automatic spending cuts and tax hikes that will bite if lawmakers fail to come up with a plan. >> pessimism remains the prevailing mood in washington as the january deadline rapidly approaches. neither democrats nor republicans have any new proposals for a workable compromise. >> the starbucks coffee chain has urged its workers in washington, d.c., area to write "come together" on the cups, a plea for party leaders to work out a compromise, but some customers say that is not enough. >> i mean, i like with starbucks is riding on the cups. i wish they would write, like, something else, like "republicans, stop being stupid." >> i think the solution will probably be neutered and not very effective, but ultimately, i think they will avoid the fiscal cliff. >> but neither side appears willing to give in. democrats, for example, are frustrated that republicans will not agree to raise taxes on the wealthy. >> the majority of rich people in our great country are willing to pay more. the only people who disagree with that are repub
NBC
Dec 26, 2012 7:00am EST
's court. leaders there will have to come up with a compromise to avert the tax hikes and spending cuts set to go into effect during the first of the year. president obama had been working with house speaker john boehner, trying to get a big deal, but talks fell apart. so hopes for that have all but faded, the president conceding he would accept a smaller measure as long as it includes taxes going up on the wealthiest americans. if the country goes over the cliff, economists warn it could be dire. the average american would wind up paying about $2,000 more in taxes and eventually, savannah, if we go over the cliff and stay there, the economy could dip back into recession. now, lawmakers are also headed back to d.c. in fact, the senate is back in session tomorrow. savannah? >> short holiday. lot of work to do. kristen welker in honolulu. thank you. willie? >>> former president george h.w. bush spent his christmas in a hospital after a series of setbacks delayed his release. janet shamlian is there for us. good morning. >> reporter: willie, good morning to you. doctors had hoped to speend the
FOX News
Dec 24, 2012 6:00am PST
center is up next. gregg: and just eight days left until massive tax hikes and spending cuts kick in affecting the lives of every single american. so with washington on vacation, is this now simply unavoidable? we'll take a look for answers next. >> i think the president is eager to go over the cliff for political purposes. i think he see as political victory at the bottom of the cliff. heather: we have breaking news of yet another shooting. just crossing the wires. report that is a gunman has opened fire on firefighters responding to an emergency. this happening in webster, new york, near lake ontario. david lee miller live in our new york newsroom with the latest. david lee, what can you tell us? >> reporter: many details are still sketchy, heather but at this hour i can tell you firefighters were responding to a blaze at 6:00 this morning in the town of webster. webster is a suburb of rochester, new york. it is difficult to fight a fire when temperatures are 30 degrees. someone according to media reports, someone opened fire on firefighters. two firefighters are being treated.
NBC
Dec 28, 2012 6:30pm EST
taxes from going up? >>> winter blast. we're tracking yet another big storm. tonight, the latest on where it is head and had how it will impact holiday travel. >>> caught in the middle. tonight, hundreds of children and families with shattered dreams. why has the russian government banned adoptions by u.s. citizens? >>> and new revelations about ronald reagan's relationships with two of the most powerful women in the world, the queen and margaret thatcher in documents released three decades later. "nightly news" begins now. >>> from nbc news world headquarters in new york, this is "nbc nightly news" with brian williams. >>> good evening, i'm natalie morales in tonight for brian. it is down to the wire now with about 80 hours until the fiscal cliff deadline. and on what is a holiday weekend for many, that is not the case for congressional leaders in washington. there was a sense of urgency today as the president met with house and senate leaders along with the treasury secretary and vice president a short while ago at the white house to try and forge a last-minute deal. the presid
NBC
Dec 28, 2012 7:00am EST
and family. >> the average family earning $50,000 to $75,000 a year will see their taxes rise $2400 in 2013. >> reporter: income tax rates go up at every level. taxes on capital gains and dividends will jump. the 2% payroll tax holiday ends. the alternative minimum tax will hit more families. long-term unemployment benefits expire. >> sad it got to this point, and it's scary, if anything. hopefully they're able to get to something this week. >> reporter: analysts say congress may miss its own deadline, and that could tee up a january fix, but damage may be unavoidable. >> when push comes to shove, they will find a way to bridge their differences. and it may not be pretty, but it will get done. it may get done in such a chaotic fashion that the economy will pay a price. >> reporter: so we hear from more democrats and republicans this sort of acceptance they might slip past that january 1st deadline and keep working on this. at the same time, both sides said they want to get a deal, and they know there's a lot of pressure from their constituents, from the larger political environment to do so
CSPAN
Dec 25, 2012 10:00pm EST
, desperate to recoup some of the vast sums expended past the stamp act stamp act in 1765, imposing the tax of varying sizes on every business license and legal document in the colonies, as well as every copy of every magazine and newspaper, not to mention every deck of playing cards in play by those to see them through hard times. the cries of outrage were heard across the atlantic. americans were already out of work in cash and no hope. burdened by sugar and molasses taxes and sick and tired of it on wheels of bureaucracy right with overpaid incompetent functionaries who have no interest in the shoveling. columnist were taxed out and fed up and demanding a change. now, if this sounds like a recap of some of the rhetoric that has been flying across temporary airwaves, that is little surprise. tough times have always made for tough politics. but there is one significant difference to keep in mind. in fact, columnist had no hope. however illusory, that the next election or the other party might turn things around. in fact, there were no elections this absence. authority resided with the teen
NBC
Dec 29, 2012 7:00am EST
a deal on the fiscal cliff today, hoping to avoid steep spending cuts and tax increases. kristin welker is at the white house where the president had a high-profile meeting with congressional lawmakers on friday. good morning. >> reporter: carl, good morning to you. all eyes are on the senate this morning as majority leader harry reid and minority leader mcconnell true to cobble together a last-minute plan to avoid the fiscal cliff. president obama saying he is modestly optimistic that they can come up with a plan in time. on friday, president obama met with the four top congressional leaders here at the white house for about an hour. sources close to those talks say that the president gave lawmakers two options, either come up with a plan that can make it through both chambers or put his proposal up for a vote. under the president's plan, the bush-era tax cuts would be extended for those making $250,000 or less with rates allowed to raise on top income earners. it would also extend unemployment insurance benefits. president obama saying the time for action is now. >> the american peopl
CNN
Dec 28, 2012 9:00am PST
connected with this particular custody case and this tax evasion case in russia. >> so matthew, this law would go into effect january 1st. is there any chance that those cases that are pending where the paperwork is finalized and where people are expecting their children, essentially, in a month or two would be allowed to go through? >> well, there is a question mark hanging over those. there are 52 children, according to the kremlin, that are in the middle of this adoption process with u.s. parents. the law, as you say, starts on january the 1st, but it's only a couple of days until then. so unless that can be finalized, my expectation is that that will be put on hold and indeed that's what russian officials are saying, that they don't think this law has been enacted from january the 1st, these children should be allowed to go to the united states. instead there's been a call for russian families to step forward and take on those adoptions instead. >> all right, matthew, thank you very much. russia is one of the most popular countries for american adoptions. the state department says th
CNN
Dec 29, 2012 1:00am PST
. but until now they've done little to agree on tax increases on tax cuts until that time. people in this building have none what's coming on tuesday yet they're only returning to get back to work just now. senate came back yesterday. house members, well, they won't be back until sunday. this afternoon house on senate leaders met with president obama at the white house. they talked for about an hour. afterwards president obama said he was modestly optimistic. bypassing house speaker john boehner, who has had trouble getting his fellow republicans to agree to anything, the president called on senate majority on minority leads are harry reid on mitch mcconnell to work out a deal on then present it to the house. he also laid out a scaled down mini deal if they are can't manage it. >> if we don't see an agreement between the two leaders in the senate, i expect a bill to go on the floor, i asked senator reid to do this, put a bill on the floor that makes sure that taxes on middle class families don't go up, that unemployment is still available for 2 million people on that lays the grou
NBC
Dec 24, 2012 7:00am EST
a political victory the on the bottom of the cliff. >> on taxes it's hard for the republicans, but the president ran on that platform, 250, no tax increases for people below but taxes for people above. he won. >> reporter: those comments cap aa week in which house speaker john boehner and president obama seemed close it to getting a deal, which included tax reform and deficit reduction. the talks fell aaparpaapart. >> how we get there god only knows. >> speaker boehner tried to pass an alternative bill that allowed tax rates to rise on those making a million dollars or more. >> they weren't taking that out on me. they were dealing with the perception that somebody might accuse them of raising taxes. >> reporter: before jetting off to hawaii, president obama was prepared to accept a smaller deal as long as it prevented taxes from going up on middle class americans and extended unemployment insurance. >> i expect democrats and republicans to get back to washington and have it pass both chambers, and i will immediately sign that legislation into law before january 1st of next yea
MSNBC
Dec 25, 2012 4:00am PST
the president talking about moving the top tax rate up to 39.6%. and i'm just wondering, is that as equitable an approach, when a lot of really rich guys and women look at that 39.6%. right now, i'm never going to pay that. >> yeah. >> or would it be better to raise the capital gains tax, say 15 to 25%? would that help with income disparity a bit more? >> well, that's why i suggest a minimum tax. because you're absolutely right. of the 400 highest incomes in 2009, which average $200 million a piece, a quarter of the people paid at a rate under 15% so the only way to get it that is to have a minimum tax. >> how many of those would you bet, if you had to make a bet, paid 39.6 -- >> none of them. they just don't. and six people who were in that $200 million category paid nothing at all. they were around these 47%. they were the moochers. and they paid zero. you know, the way they get at them is a minimum tax. and it's very simple to do. and it will only apply on incomes a million above and another level at 10 million. >> what's the minimum tax again? >> the minimum tax, i would guess, would be 3
CBS
Dec 28, 2012 5:00pm EST
was at the white house today trying to reach an agreement to avoid hundreds of billions of dollars of tax increases and spending cuts. no statement is expected anytime soon. we go live now to washington to war correspondent, ben. >> all of the participants at this meeting left without a word. i don't think we will hear from them the rest of the day. there is a great deal at stake and very little time left. it has been reported that president obama presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >> yes there is little doubt in washington about the seriousness of the sick jubilation. the problem is withdrawing government demand from the economy too big spending programs cut
MSNBC
Dec 26, 2012 2:30am PST
diminishes. >> there is hope a deal will be cut. >> reporter: if congress doesn't oaks spire tax cuts in day, middle income earners will owe $2,000 extra a year. consumers are predicted to cut back in automotive, apparel and entertainment. >> once people decide to cut back on that, the effect is dramatic. >> reporter: the national retail federation says retailers support 1 in 4 american jobs and if the downward trend intensify, those jobs would be at risk. >> if retailers stop creating job, the economy as a whole will stop creating jobs. >> reporter: the wait is e excruciating. president obama visited hawaii after talks on capitol hill. they were $200 billion apart on a deal. >> the president was $2200 billion higher on revenues and speaker boehner, $200 billion on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decision ahead, six days left. >> lawmakers are saying they will likely take on tax reform and spending cuts again in the new year when the debt ceiling debate heats up. richard, back to you. >> looks like they will be working over the
MSNBC
Dec 29, 2012 7:00am PST
of the estate tax because they will have to give something on the rates, and they want to push the threathold of the rate increase as high as they could and go back to the $400,000 that they were offered from the president before. >> right. >> and all of that is absolutely true, and also in addition, what we are looking at of course is the poll numbers. when you talked, i thought it was brilliant that you said that we are the cop tes tantntestant the reality when you look at the republican actions in particular, and the republican actions are polling 20% approval and the president is polling 50% approval, but the 20% approval is about the action on the cliff and not how they play in their individual districts. so when you travel around the country, and i have been to e tea party country in arizona, et cetera, there is a huge incentive for some of the more junior members of congress to stand their ground. it doesn't have to do with the fiscal math of the country, but it has to do with the electoral math of the home districts. >> and i think that she has put the finger on the thing that we are
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